Question: Question 9 1 pts Mark borrowed $13,497 to help pay for expenses. If the loan carries an annual interest rate of 3.8% and he wants

Question 9 1 pts Mark borrowed $13,497 to help pay for expenses. If the loan carries an annual interest rate of 3.8% and he wants to be debt free in 3 years by making monthly payments, how much will each payment be? Round your answer to the nearest dollar

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=+ d. What will the capitaloutput ratio be at the Golden Rule steady state? (Hint: For the CobbDouglas production function, the capitaloutput ratio is related to the marginal product of capital.)

=+c. Suppose that public policy raises the saving rate so that the economy reaches the Golden Rule level of capital. What will the marginal product of capital be at the Golden Rule steady state?

=+a discussion of the CobbDouglas production function, see Chapter 3.)